DefiLlama

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What is DefiLlama?

DefiLlama is the largest total value locked (TVL) aggregator for decentralized finance (DeFi), focusing on accurate data and transparent methodology. A team of individuals and contributors maintains its fully open-source data.

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DeFi applications and platforms allow users to invest money in staking, liquidity pools, lending, and other services.

While decentralized applications (dApps) were initially developed on the Ethereum blockchain, the DeFi space has become increasingly fragmented with the emergence of new blockchains that aim to complement or compete with Ethereum (ETH). This has made it harder to track DeFi activity across various platforms.

One way to measure the adoption of various DeFi protocols is to compare their TVL in smart contracts via the popular DeFi aggregator DefiLlama.

As blockchain data is publicly accessible, DefiLlama can track all transaction data using oracles or block explorers. The public DefiLlama application programming interface (API) can integrate the data into other websites.

DefiLlama is part of Llama Corp, a collective building out blockchain data analytics, infrastructure, payments, cross-chain, and media solutions, with over 10 million monthly users.

The platform takes its name from monitoring the “llamas” (DeFi projects) within the vast DeFi landscape.

If you are wondering who the founder of DefiLlama is, that person is said to be the pseudonymous 0xngmi.

What is DefiLlama?

Key Takeaways

  • DeFiLlama compiles publicly available on-chain data and converts it into an easy-to-read format for users.
  • DefiLlama is part of Llama Corp.
  • A team of individuals and contributors maintains its fully open-source data.
  • Users can analyze on-chain data on DeFiLlama to make well-informed investment decisions.
  • Narrative Tracker on DeFiLlama compiles the market cap-weighted performance of various crypto sectors.

Key Features of DefiLlama

Key Features of DefiLlama

DefiLlama’s analytics dashboards aggregate data to display updated information about the TVL, revenue, fees, and volumes of all known DeFi protocols on Layer 1 (L1) and Layer 2 (L2) blockchains.

Its features include:

Comprehensive data
DefiLlama provides data on various DeFi projects, including decentralized exchanges (DEXs), lending platforms, yield farming projects, and more. Users can easily access information about token prices, trading volumes, liquidity pools, and stablecoin market capitalization and filter it by blockchain or category.
User-friendly interface
The platform’s user-friendly interface makes it accessible to experienced DeFi enthusiasts and newcomers. Users can navigate through data comparing thousands of projects and get the insights they need to make informed decisions.
Portfolio tracking
DefiLlama enables users to connect their wallets to track their DeFi portfolios. This allows them to monitor the performance of their assets in one place.
Historical data
In addition to real-time data, the site provides historical data that allows users to analyze trends and make data-driven decisions.
Community engagement
DefiLlama takes a collaborative approach, with its active community of users and developers contributing to the platform’s development to ensure its content remains relevant and continually updated.

DeFiLlama promotes transparency by providing users with accurate real-time information to assess the security and credibility of DeFi projects.

It provides a tool for traders and investors to identify market trends and opportunities. It serves as an educational resource for newcomers to the DeFi space, helping them understand the different projects and how they are placed within the ecosystem.

DefiLlama Tools and Services

Here is a list of tools and services on DefiLlama:

DeFi overview
DefiLlama aggregates the TVL on blockchain networks and dApps. It also provides data on DEX trade volumes, stablecoin transactions, derivatives volume, airdrops, oracles, and gas fees. 
LlamaSwap
A DEX aggregator, which is a solution that matches crypto traders with the best on-chain price offered by various exchanges.
LlamaFeed
A platform that compiles crypto news, tweets, real-time crypto prices, prediction markets data, governance proposals, token unlocks, hacks, and more.
NFT sector overview
DefiLlama aggregates data on NFT collections, their floor price, and price fluctuations.
Borrow aggregator
Helps crypto users find the best rates for crypto lending available across Dapps like Aave and Spark.
Bridge overview
DeFiLlama compiles data on the inflow and outflow of crypto assets across blockchains through cross-chain bridges.
Stablecoin overview
DeFiLlama has a dedicated interface to track the market cap, trade volume changes, and token dominance within the stablecoin sector.
Hacks
DeFiLlama tracks data on the total value lost to hacks across on-chain dApps and bridges. The platform also shows the techniques used by hackers.
ETH Liquid Staking overview
DeFiLlama compiles data on the TVL across various Ethereum staking platforms like Lido and Rocketpool.
ETF overview
DeFiLlama tracks data on the asset under management (AUM) across spot Bitcoin (BTC) and spot Ethereum ETFs.
Narrative Tracker
Compiles the market cap-weighted performance of various crypto sectors such as memecoins, prediction markets, artificial intelligence (AI), real world assets (RWA), socials, rollups, and more.

What Data Does DefILlama Track?

Here is a list of on-chain data tracked by DeFiLlama:

  • TVL
  • Crypto market cap
  • Stablecoin transactions
  • Trade volumes
  • Derivatives volume
  • Fees collected by dApps and chains
  • dApp revenue
  • Protocol rankings
  • Onchain yield
  • NFT Floor price
  • Token unlock data
  • Interchain bridge inflow and outflow data
  • CEX transparency data
  • Governance proposal data
  • Liquidation data
  • Crypto funding data
  • Total value lost to hacks
  • ETH liquid staking data
  • ETF AUM

DefiLlama Benefits and Use Cases

Here are the benefits and use cases of using DeFiLlama:

Crypto market researchTracking blockchain adoption trendToken unlock updatesCrypto updatesCEX health

On-chain analysis is unique to the crypto market due to the publicly available blockchain data. Users can analyze on-chain data on DeFiLlama to make well-informed investment decisions.

Crypto investors can study the adoption trends of blockchain networks and dApps by analyzing growth rates of metrics such as TVL, stablecoin market cap, transaction volumes, DEX trades, and asset inflows.

Tracking token unlocks can help crypto investors prepare for portfolios against market volatility. Token unlocks are considered bearish events as they can add selling pressure on a token.

DeFiLlama offers tools such as LlamaFeed to help users stay updated with the latest developments in the crypto industry.

The CEX transparency data on DeFiLlama can help users analyze the health of the centralized crypto exchange they use. In the past, crypto investors have lost billions of dollars in crypto funds to CEX bankruptcies and hacks.

How to Use DefiLlama

The DefiLlama website presents an intuitive dashboard that overviews the DeFi market. You can use the search bar to look up specific DeFi projects or tokens or compare blockchains and yields. There are also sections on yields, pools, NFTs, bridges, governance, and more. You can navigate to specific categories to explore projects within that sector.

To view details on a specific project, click on the name. Data on each project page includes:

  • TVL
  • Market cap
  • Amount staked
  • Amount borrowed
  • Staking
  • Fees
  • Revenue
  • Governance
  • Treasury
  • Total raised

The TVL chart also shows markers for significant events such as the start of rewards, version launches, migrations, and major attacks.

The Bottom Line

DeFiLlama is a valuable resource that provides data and insights to help users navigate the complex and dynamic DeFi landscape.

As DeFi continues to evolve, platforms like DeFi Llama can promote transparency, mitigate risks, and enable users to understand the performance and potential of the applications and services available.

FAQs

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Mensholong Lepcha
Crypto & Blockchain Writer
Mensholong Lepcha
Crypto & Blockchain Writer

Mensholong is an experienced crypto and blockchain journalist, now a full-time writer at Techopedia. He has previously contributed news coverage and in-depth market analysis to Capital.com, StockTwits, XBO, and other publications. He began his writing career at Reuters in 2017, covering global equity markets. In his spare time, Mensholong enjoys watching soccer, finding new music, and buying BTC and ETH for his crypto portfolio.